Daily Forex market review 12 September 2016

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Forex market analysis: daily and weekly forecasts Check the website for more information: https://freshforex.com/analitics/ Euro/dollar pair - Following the example of the Friday's US trading session on September 9, smaller "risk appetite" of investors will strengthen euro. Then the trend will change its character, and we'll see a stronger US currency amid growing Libor - the inter-bank lending rate. So, we expect the downtrend on this pair. - ADX indicator on the 4-hours' and hourly chart shows the uptrend. - RSI indicator on the daily, 4-hours and hourly charts shows the flat. - Recommendation: Buy at 1,1240 (one twelve forty) and first take profit at 1,1270 (one twelve seventy) and then Sell at 1,1270 (one twelve seventy) and take profit at 1,1215 (one twelve fifteen) Pound/dollar - On the one hand, large-scale Friday's sales in the oil market can put the pound sterling under pressure. On the other hand, yield of 10-year's UK bonds is still rising, which is positive for pound. - ADX indicator on the daily and 4-hours charts shows the flat; whereas on the hourly chart it shows the uptrend. - RSI on the daily, 4-hours and hourly charts shows the flat. - Recommendation: trade inside the flat 1,3236- 1,3315 (one thirty two thirty six - (one thirty three fifteen) (which corresponds to the Bollinger bands's range on the hourly chart). Dollar/Japanese Yen - Entire range of risky assets is being sold off: shares, oil, metals, high-yield cross-rates, which is usually positive for yen. Thus, we expect the downtrend on this pair. - ADX indicator on the daily chart shows the uptrend.; whereas on the hourly chart the trend is downward. - RSI on the daily, 4-hours and hourly charts shows the flat. - Recommendation: Sell at 102,55 (one hundred and two dot fifty five) and take profit 102,05 (one hundred and two dot zero five)